ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has announced the purchase of 872,093 of its own shares on Wednesday, as part of an ongoing buyback program aimed at mitigating the dilutive effect of recent share issuances. The transactions were conducted on the Helsinki Stock Exchange (XHEL) with a weighted average price of €3.98 per share.
The buyback initiative, which began on Monday, follows Nokia's announcement on November 22, 2024, detailing the Board of Directors' decision to offset the dilution from issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders and for certain Infinera share-based incentives. The program is set to continue until December 31, 2025, with a target of repurchasing 150 million shares for a maximum total cost of €900 million.
Following the recent transactions, the total cost of which amounted to €3,467,965, Nokia now holds 362,318,789 treasury shares. This move is in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and is supported by the authorization granted at Nokia's Annual General Meeting on April 3, 2024.
Nokia, a leader in B2B technology innovation, is recognized for its comprehensive work across mobile, fixed, and cloud networks. The company is committed to creating high-performance networks that offer secure, reliable, and sustainable solutions for service providers, enterprises, and partners around the globe.
The information regarding Nokia's share repurchase was based on a press release statement, which included detailed transaction data as an appendix.
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